Revised Panthers stadium deal ensures only six more years in Charlotte

Posted by Mike Florio on April 20, 2013, 11:09 AM EDT

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The good news is that the Panthers and the City of Charlotte have worked out a revised deal to upgrade the team’s stadium. The bad news is that, instead of a 15-year commitment in exchange for public funds, the team will agree to stay for only six years.

According to the Associated Press, the new plan reflects a reduced public contribution to $87 million, due to the refusal of the North Carolina legislature to increase the local prepared food and beverage tax, or to provide any state funds.

The deal reportedly contains a clause that makes it, as a practical matter, a 10-year commitment. The team, however, could leave after six years “without many difficulties.”

A vote by the City Council to approve the deal is expected on Monday.

Owner Jerry Richardson doesn’t plan to move the team. But the 76-year-old owner who received a heart transplant in 2009 has directed the team to be sold within two years after his passing. The next owner could decide to relocate the team, and the under the revised deal it could happen sooner than previously believed.

30 responses to “Revised Panthers stadium deal ensures only six more years in Charlotte”

Love to hear all of the issues with Jacksonville and Charlotte support. To think Tagliaboo told Baltimore to build a museum, after the NFL turned down their expansion bid. Bet if they could do it again baltimore an d St. Louis would have expansion teams.

I’m tired of constantly reading these articles about nfl teams bullying their respective cities. I used to be one of those fans that understood a joint venture in building a stadium or an arena but the more and more I see teams holding cities hostage when they report they will be making 15 billion in profits in a few years I just can’t support this. It’s vulgar and I say let the teams walk then. No more money for nfl stadiums. Welfare for the rich.

If the NFL and it’s owners want to continue their hostage taking, fine, call their bluff and let them move. If enough cities and states stand up to these corporate bullies, they’ll knock it off and work WITH localities rather than trying to milk taxpayers for all their worth.

There is just something so crazy wrong about giving $87 million of taxpayer money to a BILLIONAIRE to upgrade a stadium that does not come close to selling out because the team is so bad to keep them there for only 6 more years.

The whole Jags to LA thing is one of the most ridiculous….old…and unfunny/unclever things to get posted.
1) Yes we stink
2) 0 Blackouts last year….and we came in roughly 22nd in attendance…with a 2-14 team
3) so the joke is – Jags stink/can’t fill stadium…so we are moving to a city with an even WORSE track record as an NFL city? Is that the joke?
4) Say what you want but having not 1 but 2 teams pack up and leave on you is worse than any perceived attendance problems we may have
4) Yes we stink

The “BAL & STL vs CAR & JAX” expansion derby thing is very old now.Can’t you get over that by now? Then again, I’ll probably be very bitter too if I lived in a crime ridden hellhole like Baltimore. See ya in the next CAR or JAX story my friend.

Panthers are not wanting for ticket sales. 90 % of the stadium is sold out due to PSL’s, the rest sell out close to the season. Training Camp is always packed, and this is with a four year streak of missing the playoffs.

I commend the state of NC for making a stand in refusing to pour valuable funds from tax payers into Jerry Richardson’s entrepreneurial venture. If they move the team in 6 years (not likely), then good riddance.

Contrary to what uninformed “big market” fans might be posting here, the Panthers are one of the most lucrative teams in the NFL, and currently have a 106-game sellout streak that stretches back over a decade. When the team’s financials leaked a few weeks ago, analysts noted that Carolina had one of the most stable, financially robust franchises in the league. And yet here’s our reward for the fan support of a small market team — being bullied and threatened with relocation.

And please, can the franchise stop bragging about how the stadium was built without the use of public money? Does that mean that Richardson footed the bill? No, it was funded through the sale of PSLs — PSLs sold to the very longtime fans being threatened.

You guys keep talking about attendance. A franchise moving has nothing to do with attendance. See Cleveland Browns. The questions becomes overall value and TV deals.

If the new owner of the Panthers sees a better market to grow in Portland…guess what it will be the Portland Panthers. I know from experience. I live in St. Louis and this city supported a doormat of a franchise after the GSOT years. sellout after sellout watching piss poor football year in and year out was the order of the day in St. Louis.

Stan Kroneke had the best lease in sports with a $250,000 a year lease! He could find that money in between his coach cushions.

Only over the last few seasons where it became apparent he was trying to high tail it to LA did attendance drop off. These guys don’t care about the fans. Game day money is pocket change. So if you think becasue you are selling out your stadium every Sunday that a franchise won’t move on you had better think again.